Olema Pharmaceuticals (NASDAQ:OLMA) Given New $35.00 Price Target at Guggenheim

Olema Pharmaceuticals (NASDAQ:OLMA) had its price target dropped by equities researchers at Guggenheim from $38.00 to $35.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price target would suggest a potential upside of 163.16% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. Wolfe Research assumed coverage on shares of Olema Pharmaceuticals in a research report on Friday, March 27th. They issued a “peer perform” rating for the company. The Goldman Sachs Group reduced their target price on Olema Pharmaceuticals from $38.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 18th. HC Wainwright dropped their price target on Olema Pharmaceuticals from $45.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, March 9th. TD Cowen reaffirmed a “buy” rating on shares of Olema Pharmaceuticals in a research report on Monday, March 9th. Finally, Oppenheimer reiterated an “outperform” rating on shares of Olema Pharmaceuticals in a research note on Monday, March 9th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Olema Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $44.10.

Olema Pharmaceuticals Stock Down 4.8%

Shares of NASDAQ OLMA traded down $0.67 during midday trading on Wednesday, hitting $13.30. 132,539 shares of the company’s stock were exchanged, compared to its average volume of 1,428,006. The firm’s fifty day simple moving average is $16.00 and its 200-day simple moving average is $20.41. The company has a market cap of $1.16 billion, a PE ratio of -7.13 and a beta of 2.05. Olema Pharmaceuticals has a twelve month low of $3.89 and a twelve month high of $36.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 9.95 and a quick ratio of 9.95.

Olema Pharmaceuticals (NASDAQ:OLMA) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.52) EPS for the quarter, meeting the consensus estimate of ($0.52). Research analysts predict that Olema Pharmaceuticals will post -2.17 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Shawnte Mitchell sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $24.25, for a total value of $606,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.56% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Olema Pharmaceuticals in the 4th quarter worth approximately $1,735,000. Candriam S.C.A. raised its holdings in Olema Pharmaceuticals by 46.9% during the third quarter. Candriam S.C.A. now owns 1,249,727 shares of the company’s stock worth $12,235,000 after purchasing an additional 399,273 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Olema Pharmaceuticals by 83.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 447,046 shares of the company’s stock worth $11,176,000 after purchasing an additional 202,970 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in Olema Pharmaceuticals during the third quarter worth $8,361,000. Finally, Jennison Associates LLC purchased a new stake in Olema Pharmaceuticals during the fourth quarter worth $24,100,000. 91.78% of the stock is currently owned by institutional investors and hedge funds.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women’s cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.